Income head for commission received by director

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Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 If I am director of one Private Limited Company and i am getting commission on sale of the co. In which head i have to show the commission income in my personal return?

Will I get depreciation on vehicle purchased?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 September 2013 it will be taxed under income from other sources.

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 Thank You very much for your quick response.
Can get depreciation on vehicle in my personal return?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 September 2013 yes ofcourse when u show it as an asset in your balance sheet.
if u use for more then 1080 days then full depreciation allowed else only 50% allowed.

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